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RIESER v. BALTIMORE AND OHIO RAILROAD COMPANY

Docket 23560.

224 F.2d 198 (1955)

Norvin RIESER, Milton S. Koblitz, George S. Champlin, E. M. Dart Mfg. Co., Lillian Boehm, Bernard Fein, Kathryn P. Braithwaite and Edward F. Quirke, Plaintiffs-Appellants, and Emanuel Josephson, Rubin Slavsky, Raymond Wiley and William W. Lange, Intervening Plaintiffs-Appellants, v. The BALTIMORE and OHIO RAILROAD COMPANY, Defendant-Appellee.

United States Court of Appeals Second Circuit.

Decided June 9, 1955.

Attorney(s) appearing for the Case

Louis Boehm and Nathan B. Kogan, New York City (Spencer Pinkham, New York City, of counsel), for plaintiffs-appellants and intervening plaintiffs-appellants.

Abraham K. Weber, New York City, for plaintiffs-appellants Kathryn P. Braithwaite and Edward F. Quirke.

Cravath, Swaine & Moore, New York City (Ralph L. McAfee, Edward C. Perkins, and Jerome T. Orans, New York City, of counsel), for defendant-appellee.

Before CLARK, Chief Judge, and FRANK and HINCKS, Circuit Judges.

CLARK, Chief Judge.

Plaintiffs are bondholders of the Alton Railroad Company, which has recently gone through reorganization pursuant to § 77 of the Bankruptcy Act, 11 U.S.C. § 205. In that reorganization plaintiffs received only 37.5 per cent of the face amount of their claims, and their old bond certificates were cancelled "except for purpose of evidencing right of the bearer or registered owner to a claim, if any, against the Baltimore and Ohio Railroad...

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